Building Details

Building Size 4,961 SF

Year Built 2010

Stories 4

Units 4

Listing Agency: Douglas Elliman Real Estate

Listed By: Noam Gottlieb · License #10301213890 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 27 Last Checked: Oct 7 at 12:03PM

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Investment Insights

Based on property information with market context.

A multifamily property is available for sale in Brooklyn, New York. The list price is $2,750,000.

Key Highlights

• Year Built: 2010

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$151,454

Cap Rate

5.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,029,080 $3.0M

Cap Rate 7%

$2,163,629 $2.2M

Cap Rate 9%

$1,682,822 $1.7M

Market Conditions

NOI Build-Up for 4,961 SF

Gross rent

$281.0K $56.64/SF

− Vacancy

−$5.6K −$1.13/SF

EGI

$275.4K $55.51/SF

− OpEx

−$123.9K −$24.98/SF

NOI

$151.5K $30.53/SF

Area

Brooklyn, NY

Vacancy

2.00%

Lease Rate

$56.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,029,080

Cap Rate 7%

$2,163,629

Cap Rate 9%

$1,682,822

Alternative Uses

Best Use

Apartment 5plus

$2.16M

$1.89M – $2.52M (±1% cap)

NOI $151,454 @ 7.0% cap · market cap 5.83%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.11M

$3.59M – $4.79M (±1% cap)

NOI $287,540 @ 7.0% cap · market cap 11.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Law Firm Dental Office Parking Lot & Garage Nursing Home Auto Parts Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,908

Businesses Nearby

Explore this area Business Placement

Demographics for 11216, NY

61,251

Population

28,825

Households

2.1

Avg Household Size

34

Median Age

56%

College-Educated

91%

High-School Grad

1.0 sq mi

ZIP Area

61,251

Density / Sq Mi

$95,000

Median Household Income

$61,389

Median Earnings

$2,180

Median Rent

$1,398,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Multifamily property available in Brooklyn, New York.

Where is this multifamily property located?

The property is located at 241A MADISON St Brooklyn, NY.

What is the asking price?

The asking price for this property is $2,600,000.

What are key features of this property?

This property features: Year Built: 2010